Andrew Jason Mandell of Oakland California a stockbroker formerly registered with Network 1 Financial Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of possible violations of federal securities law. Letter of Acceptance Waiver and Consent No. 2017052907901 (Aug. 20, 2018).
According to the AWC, FINRA launched an investigation into Mandell’s activities, which FINRA suspected to be violative of Securities Act of 1933 Section 5. Mandell was sent a notification from FINRA staff on May 10, 2018, under Rule 8210, which called upon Mandell to provide recorded testimony between June 11, 2018 and June 12, 2018.
The AWC stated that Mandell’s counsel contacted FINRA on May 31, 2018, indicating that Mandell understood FINRA’s request for testimony but would at no point be cooperating in this regard. FINRA found that Mandell’s refusal to cooperate with FINRA’s testimony request was violative of FINRA Rules 2010 and 8210. Mandell was barred by FINRA in all capacities as a result.
Mandell has been associated with at least four broker dealers which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. For example, Mandell’s former employer, Halcyon Cabot Partners, was expelled by FINRA for willfully committing securities fraud in violation of Securities Exchange Act of 1934 Section 10(b) and SEC Rule 10b-5. Department of Enforcement v. Halcyon Cabot Partners, Ltd., Disciplinary Proceeding No. 2012033877802 (Oct. 6, 2015).
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